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CHARTS 12-31-08




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nope, VO JUST ME , A BEER , AND A FUNNY HAT!
HERES HOW I ANALYISE TRADE SET UPS!.....
SO in a nutshell ... if not so late id sell 904.00,probably exiting at the first 'stall ' around 899.75- 900, then later buy around 902.50 or lower around 4:15-16 for a long scalp, exiting early at 895 area


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Thanks both of you, VO what time frame & bar count is your zigzag on? It's hard to test a new tool with the slow low vol days. I posted a 3 min set to 5 bars, I am also watching a 610T & a 1 minuite Thnx
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Originally posted by einstein

Happy New Year Kool and the gang! Kool,still a little confused on why you are using the high of 904.75 and low of 899.50. It seems to me that the down thrust initiates at the high of the up candle (15:40) at 908 and continues down for 2 more bars until u get a signif retrace at the 15:55 candle ie the low of the second big red candle at 898.50. This would give a projection down to 883.5 at the 1.618% level. If I am way off please correct me. Just trying to be more precise and accurate on these price projections. Thanks as always. E.

your exactly correct, sir! i think i showed that on another chart. my intention here was to show the possibility of a potential bounce at the 891 level before we get there! The initial thrust always gives the valid projection, but remember my theory that every bar potentially has its own story to tell.